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Fundamental data is updated weekly, as of the prior weekend. Please download the Full Report and Dividend Report for
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Sep 18, 2018
Midstreams Going C-Corp, Should SEC Disallow the Measure Distributable Cash Flow?
It’s important to differentiate the concept of enterprise free cash flow valuation and the idea of capital-market dependence. The uncertainty of the MLP business model remains, as it is clear operators are shunning the MLP business model preferring C-Corps instead. According to work from Global X Funds, now 40% of the energy infrastructure market cap consists of C-Corps, up considerably from just 15% at the end of 2014. Though many simplifications have come with implied distribution cuts, the primary reason for the rise in C-Corps across the midstream space has been the rationalizing of excess MLP valuations to enterprise free cash flow assessments. We encourage the SEC to consider disallowing the use of distributable cash flow, as it is confusing to investors. May 25, 2018
PPL’s UK Business Provides Drag to Otherwise Strong Earnings
Image Source: Arnoooo. Former simulated Dividend Growth Newsletter portfolio idea PPL Corp turned in strong earnings from ongoing operations growth in the first quarter of 2018 despite its UK segment, its largest business, taking a meaningful step back in the period. Feb 16, 2018
Dividend Increases/Decreases for the Week Ending February 16
Let's take a look at companies that raised/lowered their dividend this week. Feb 2, 2018
Dividend Increases/Decreases for the Week Ending February 2
Let's take a look at companies that raised/lowered their dividend this week. Dec 17, 2017
Dividend Increases/Decreases for the Week Ending December 15
Let's take a look at companies raising/lowering their dividends this week. Dec 1, 2017
Dividend Increases/Decreases for the Week Ending December 1
Let's take a look at companies raising/lowering their dividends this week. Oct 17, 2017
Netflix's Third Quarter Shows Free Cash Burn, More Debt
The Netflix app is displayed alongside other streaming media services on the homepage of a Roku Streaming Stick. (Photo credit: Matthew Keys / Flickr Creative Commons)Netflix is burning through free cash and the company’s balance sheet is ballooning with debt. The junk-rated company continues to attract buyers in this frothy stock market, however. Jul 6, 2017
Walgreens Builds Out Its Network
Image Source: Mike Mozart. Walgreens continues its quest to build out its network of pharmacies. The goal is to maintain the largest network in the US, which would make exclusion from a payer’s network very difficult. Let’s review the recently-revised terms of the deal to acquire a portion of Rite Aid, the third-largest pharmacy chain in the US. May 14, 2017
eBay Up 50%+ Since Nelson’s Open Letter to Yahoo CEO
In February 2016, President of Investment Research at Valuentum penned an open letter to Yahoo’s CEO Marissa Mayer. In it, he said a combination of Yahoo-eBay would be substantially value-creating for shareholders. eBay’s stock has advanced 50%+ since that letter. May 5, 2017
WBA, ESRX, CVS: Earnings Update for the Pharmacy Services Industry
Image Source: Mike Mozart. The first-quarter earnings performance across the pharmacy services industry has been a proverbial mixed bag with uncertainty continuing to weigh on performance. We continue to be interested in the industry for its defensive and strong free cash flow characteristics that bode well for dividend hikes and share repurchases going forward. We like CVS the most. The High Yield Dividend Newsletter, Best Ideas
Newsletter, Dividend Growth Newsletter, Nelson Exclusive publication, and any reports, articles and content found on
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and affiliates may have long, short or derivative positions in the stock or stocks mentioned on this site.
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